Comment on Money-laundering! The license of Lithuanian Trustcom has been revoked! by tamir

tamir
Wed, 04 Feb 2026 11:36:12 +0000

In reply to Marco Spinola.

Hi ther — thanks for taking the time to comment. A few clarifications for readers:

What our March 2022 note was based on
Our article summarized the official decision notice published by the Bank of Lithuania (Board resolutions, 14 March 2022). In that notice, the regulator states that pre-trial investigations were initiated in Lithuania, Latvia and Italy on the grounds that the Head of Administration and a Board member (described as the sole indirect beneficiaries) “may have organised money laundering” and no longer met good repute requirements; it also notes the institution no longer carried out licensed activity and lacked appropriate decision-makers, and it cites €2.3m in unsatisfied repayment requests.

Your alternative explanation (safeguarding bank / Italy / prosecutors)
You allege the licence revocation was driven by a safeguarding-bank freeze and a transfer of funds to Italy, and that refunds were blocked by prosecutors rather than the EMI. Those are serious claims. If you provide verifiable documentation (e.g., court seizure/freezing orders, correspondence from the safeguarding bank, FIU/FNTT acknowledgements, case numbers, or regulator letters), we will publish an update/correction and append your position as a right-of-reply.

Skylas / Fuselma / Bobas
You state these entities were reported by the EMI to Lithuanian authorities in 2021. If you share proof of reporting (acknowledgements / references), we’ll include that timeline. Reporting suspicious activity is relevant — but it does not automatically negate supervisory findings around governance, fit-and-proper, or safeguarding outcomes.

On the ID image / “diagram” concern
We understand the objection. Our policy is not to publish unnecessary personal identifiers. We will review whether any elements should be further redacted or removed to meet data-minimisation standards while preserving the public-interest record.

Finally: we would be more than happy to publish an update with your information. Please provide additional supporting information per Email: reporter@fintelegram.com.
Best